Description:-
Energy storage is a very diverse subject areas, it comprises from small to very large systems. Energy storage is broadly segmented into mechanical energy storage, electro-chemical energy storage, thermal storage and chemical storage. Energy storage systems have been dominating the renewable energy market as well conventional market in recent years because of the ability of store the energy in various forms and supply according to end user needs.
Energy storage market looks promising during the forecast period due to evolution in renewable energy power generation, gradual downfall in technology cost and increasing application of energy storage in all end-user industries. This is mainly because, energy storage systems are less polluting and produces less carbon emissions when compared with traditional conventional energy sources such as coal, oil and petroleum. Energy storage generation is helping in the fight against climate change as well as it is acting as a source of power for remote and off grid areas where still millions of global population lives. However, the growth of the market can be hindered by the due high initial capital investment and indistinct supervisory framework for energy storage systems. The global energy storage market is expected to grow at a CAGR of 20.18%, during the forecast period.
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Key Players
The key players of global energy storage market are AES Corporation (U.S), Tesla Inc., General Electric Company, Voith GmbH, Sulzer Ltd., Hydrostor Inc., Highview Power Storage, Linde AG, Hydrogenics Corporation and SolarReserve, LLC.
Objective of Global Energy storage Market Analysis & Forecast, from 2016 to 2023
• To provide insights about factors influencing and affecting the market growth.
• To provide historical and forecast revenue of the market segments as well as sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on operating system.
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
Target Audience
• Manufactures
• Raw materials suppliers
• Aftermarket suppliers
• Research institute & education institute
• Potential investors
• Key executive (CEO and COO) and strategy growth manager
Key Findings
• On the basis of type, the market is segmented as mechanical, electro-chemical, thermal storage, chemical energy storage. Thermal energy storage is projected to grow at the highest CAGR of 10.03% during the forecast period.
• On the basis of end-user, the market is segmented as utility, commercial & industrial and residential. Commercial & Industrial is projected to grow at the highest CAGR of 9.30% during the forecast period.
• Europe dominates the global energy storage market with 52.72% of share in 2016, in terms of value. It is expected to grow at a CAGR of 8.58% during the forecast period. North America is expected to grow at a CAGR of 8.02% during the forecast period and reach a market size of USD 1,948.9 million by 2023.
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Table Of Contents – Major Key Points
1 Executive Summary 12
2 Introduction 14
2.1 Definition 14
2.2 Scope of the Study 14
2.3 Assumptions 14
2.4 Market Structure 15
3 Research Methodology 16
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 17
3.4 Market Size Estimation 17
3.5 Forecast Model 19
4 Market Dynamics 20
4.1 Drivers 21
4.1.1 Evolution in renewable energy power generation 21
4.1.2 Gradual downfall in technology cost 21
4.1.3 Increasing application of energy storage in all end-user industries 21
4.2 Growth Drivers: Impact Analysis 22
4.3 Restraints 22
4.3.1 High initial capital investment 22
4.3.2 Indistinct supervisory framework 22
4.4 Growth Barriers: Impact Analysis 23
4.5 Opportunity 23
4.5.1 Investment in energy storage systems with grid expansion 23
4.5.2 Wide scope of development in end-user sectors 23
5 Market Factor Analysis 24
5.1 Porter’s 5 forces analysis 24
5.1.1 Threat of New Entrants 25
5.1.2 Bargaining Power of Suppliers 25
5.1.3 Threat of Substitutes 25
5.1.4 Bargaining Power of Buyers 25
5.1.5 Segment Rivalry 25
5.2 Value Chain Analysis 25
6 Global Energy Storage Market, By Type 28
6.1 Introduction 29
6.2 Mechanical 29
6.2.1 Pumped Hydro Storage (PSH) 29
6.2.2 Compressed Air Energy Storage (CAES) 29
6.2.3 Liquid Air Energy Storage (LAES) 30
6.2.4 Others 30
6.3 Thermal Storage 30
6.3.1 Introduction 30
6.3.2 Pumped Heat Electrical Storage (PHES) 30
6.3.3 Molten Salt 31
6.4 Electro-Chemical 31
6.4.1 Introduction 31
6.4.2 Lithium ion (Li-ion) Battery 31
6.4.3 Sodium Sulphur (Naps) Battery 31
6.4.4 Lead Acid Battery 32
6.5 Chemical Energy Storage 32
6.5.1 Introduction 32
6.5.2 Hydrogen Storage 32
6.5.3 Power-to-Gas 32
7 Global Energy Storage Market, By End-User 36
7.1 Introduction 37
7.2 Utility 38
7.3 Commercial & Industrial 39
7.4 Residential 39
Continued……
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